Principles of Marketing_Unit2_IP (1)

Principles of Marketing_Unit2_IP (1) - Principles of...

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Principles of Marketing Unit 2 Individual Project 9/5/2010 Kregg M. Soltow American Intercontinental University I have selected Caterpillar Inc. for the company I believe has a good strategy for developing relationships with its customers. In the following I have described and critiqued the company’s strategy for developing such relationships with its customers. Handling customer complaints Caterpillar Management finds out about customer dissatisfaction through two mechanisms: Voice and Exit. Voice represents complaints, basically the voice of the customer. Exit occurs when the customer stops buying or using the services. Cat service providers employ all sorts of strategies to avoid customer turnover. These organizations know that it is not enough to have the lowest price or the best technology, there always seems to be a competitor who can do it better or cheaper. There are no guarantees, but one of the best customer retention strategies is to provide superior customer service. And that means listening to customers. To increase the visibility of complaints, Caterpillar; Listens to the Customer - Complaints don’t always identify themselves. Someone who is requesting the same
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information for the 5th time isn’t asking for information anymore, it’s a complaint! They Solicit Complaints - Everyone in the organization should collect and report complaints. All this input should funnel to one place where your objective is to build a valid database of complaints. Most of us are accustomed to environments in which receiving customer
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Principles of Marketing_Unit2_IP (1) - Principles of...

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